Mr. Hoguet recommends holding about 2% of an overall bond allocation in emerging-market hard-currency bonds, and about 8% in emerging-market local-currency bonds.

WSJ: The Allure of Emerging-Markets Bonds

In these four periods of rising rates, managers had the acumen to navigate troubled waters by various techniques of managing bond types, sector allocation, duration, maturity, credit quality, country, and currency.

FORBES: Buffett Is Right, Bonds Need A Warning Label